U.S. to Help Elderly Unlock
'Reverse Mortgage' Equity

WASHINGTON -- The Department of Housing and Urban Development moved to expand a program allowing older Americans to use the value of their homes to supplement their incomes.

Under HUD's "reverse mortgage" program, people more than 62 years old who own their homes can draw against the houses' equity, in monthly payments if they wish. The loan doesn't have to be repaid until the home is sold or the borrower moves out or dies. Banks offering the mortgages can be insured against losses by HUD's Federal Housing...